Brascan Power Awarded Wind Power Project in Ontario.GATINEAU, Quebec -- Brascan Power Corporation (to be renamed Brookfield Power) today announced that it had been selected by the Ontario government to develop its Prince Phase II Wind Energy Project near Sault Ste. Marie, Ontario For the city of Sault Ste. Marie in Michigan, or the Canadian federal and provincial electoral districts of the same name, see: Sault Ste. Marie. Sault Ste. Marie (nicknamed "the Sault" or "the Soo") is a city on the St. Marys River in Ontario, Canada. . This 90 MW project is an expansion to Brascan Power's 99 MW Prince Phase I Wind Energy Project, announced in November 2004, that will be operational in Autumn 2006. This announcement is a result of the Ontario government's second Request for Proposals (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) for approximately 1,000 megawatts (MW) of new, renewable electricity capacity for Ontario. The power generated by the combined Prince facility will be sold under 20-year power supply agreements. "The completion of this project will be an excellent complement to our existing assets in the region, which includes 17 hydroelectric facilities located on six river systems," said Harry Goldgut, Chairman and Chief Executive Officer of Brascan Power. "Furthermore, the development of 189 MW of new wind generation, through both phases of this project, will make a significant contribution to Ontario's renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. supply. We look forward to the successful completion of this project, and to further strengthening our commitment to the Province of Ontario and to the people of this region." Last month, Brascan Power held an official groundbreaking ceremony to formally launch the Prince Phase I Wind Energy Project. Prince Phase II Wind Energy Project The 90 MW Prince Phase II Wind Energy Project will be located in the townships of Dennis, Pennefather, Korah and Aweres in Northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . The project will be constructed using 60 wind turbine generators, each measuring 1.5 MW in capacity. The wind project will be served by a transmission line in the townships of Dennis, Pennefather, Korah and Aweres, currently under construction for Phase I of the project, and a new road network. Brascan Power has successfully received all environmental federal and provincial permits required to commence construction for Phase II. About Brascan Power (to be renamed Brookfield Power) Brascan Power comprises the power generating, transmission, distribution and marketing operations of Brookfield Asset Management  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . Brascan Power has developed and successfully operated hydroelectric power hydroelectric power: see power, electric; water power. hydroelectric power Electricity produced from generators driven by water turbines that convert the energy in falling or fast-flowing water to mechanical energy. facilities, primarily in North America, for almost 100 years. Brascan Power's portfolio includes 130 hydroelectric power generating stations located on 43 river systems, 2 co-generation facilities and transmission and distribution assets, principally in the northeast. (See www.brascanpower.com for more details). Brookfield Asset Management is a specialist asset manager. Focused on property, power and infrastructure assets, the company has approximately $40 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The company is co-listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto Stock Exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. . (See www.brookfield.com for more details). Note: This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "expect", "anticipate", "intend", "estimate" and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include general economic conditions, interest rates, availability of equity and debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay and other risks detailed from time to time in the companies' Annual Reports and Brascan's 40-F filed with the Securities and Exchange Commission. The companies undertake no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. |
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